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Not sure what to make of this--did Fed actually bailout Lehman?
Old 09-16-2008, 10:04 PM   #1
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Not sure what to make of this--did Fed actually bailout Lehman?

Fed Repaid JPMorgan $87 Billion for Lehman Financing - Markets * US * News * Story -

"Lehman and the New York Fed had requested the advance, known as a "commencement date advance" and the New York Fed repaid it, according to filings. In effect, the New York Fed lent Lehman the funds."

I'm not sure I understand this, but it sure sounds like the Fed paid $87 bil to help facilitate the sale of Lehman. How is this different than a bailout, I guess besides the fact that Lehman won't be around anymore? Whether the Fed paid to bail them out or "help underpin trades," they still spent the money.
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